Phase 2: Cooling

To Do List

Quizlet

Once BUBB has filed its papers, it waits. And waits. A very long 20-calendar-day cooling-off period is the norm, but it usually takes the SEC longer to figure things out. Why do we need to cool things off? Because pre-Depression, the "hot" issues were sold to poor unsuspecting truck drivers who then proceeded to speculate in them with everything they owned because they so hated driving a truck for a living; and then they lost it all. It wasn't pretty.

And...

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